Tag Archives: unprofitable

75% of South African gold mines unprofitable – mineral council

South Africa’s 140-year-old gold industry – which was once the world’s largest – is now facing a major crisis. The country’s mineral council says 75 percent of gold mines are unprofitable or barely making money. The announcement comes as the sector enters wage talks with its employees. Around 200 employer and employee representatives are set to start the negotiations on ...

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Musk to fire 9% of staff in ‘difficult reorganization’ of perpetually unprofitable Tesla

In an effort to try and hit production targets and probably even make the first profit in Tesla’s 15-year history, Elon Musk has announced a major round of layoffs, that will affect nine percent of the company’s 37,000 employees. “As part of this effort, and the need to reduce costs and become profitable, we have made the difficult decision to ...

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